Shareholders shrugged off the announcement, sending the stock down 0.15% Monday to $59.26.

Shares of the Union, N.J.-based retailer, which also owns Buybuy Baby and Cost Plus World Market stores, have fallen about 20% in the last 12 months as online competition remains fierce.

Sales for the most recent quarter sank 1.7% from a year ago to $2.65 billion. Net income totaled $187.1 million, a 7.6 decline.

The new share buyback program, which may be handled in the open market or through other negotiated transactions, will be completed during fiscal 2016, the company said. It follows an earlier buyback round that’s still ongoing, with about $861 million remaining.

Since 2004, the company has returned about $6.6 billion to shareholders through share repurchases, it said.

“We also believe this is an opportune time, and method, to return value to our shareholders,” said CEO Steven Temares, who’s a board member.